NeoGenomics (NASDAQ:NEO) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of NeoGenomics (NASDAQ:NEO) in a research note published on Wednesday, Benzinga reports. They currently have a $19.00 price target on the medical research company’s stock.

Several other analysts have also recently weighed in on NEO. Stephens reissued an “overweight” rating and set a $19.00 price target on shares of NeoGenomics in a report on Tuesday, July 30th. Benchmark reissued a “buy” rating and issued a $18.00 target price on shares of NeoGenomics in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, NeoGenomics has an average rating of “Moderate Buy” and an average target price of $19.89.

NeoGenomics Trading Up 3.5 %

NeoGenomics stock opened at $15.46 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.93 and a current ratio of 2.01. The stock has a 50-day simple moving average of $14.71 and a 200 day simple moving average of $14.73. The stock has a market capitalization of $1.98 billion, a P/E ratio of -24.94 and a beta of 1.19. NeoGenomics has a 52 week low of $12.77 and a 52 week high of $21.22.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of NeoGenomics by 107.2% during the second quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock worth $32,000 after purchasing an additional 1,206 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of NeoGenomics during the second quarter worth about $57,000. KBC Group NV lifted its stake in shares of NeoGenomics by 33.1% in the third quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock worth $67,000 after acquiring an additional 1,127 shares during the period. Banque Cantonale Vaudoise lifted its stake in shares of NeoGenomics by 10.2% in the second quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company’s stock worth $244,000 after acquiring an additional 1,633 shares during the period. Finally, Gabelli Funds LLC bought a new stake in NeoGenomics in the first quarter valued at approximately $283,000. 98.50% of the stock is currently owned by institutional investors.

NeoGenomics Company Profile

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States and the United Kingdom. It operates through Clinical Services and Advanced Diagnostics segments. The company offers testing services to hospitals, academic centers, pathologists, oncologists, clinicians, pharmaceutical companies, and clinical laboratories.